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Founded by Ned Johnson in 1963 as the Fidelity International Fund during what Peter Lynch called the "great fund boom", it was renamed the Magellan Fund in 1965. As Lynch recounted, the early sales staff of the Magellan Fund was mostly part-time, traveling employees until the 1973–1974 stock market crash led to a severe decline in interest.
Fidelity Management & Research Company is founded to act as investment adviser to Fidelity Fund with Edward C. Johnson 2d as president. 1943 Edward C. Johnson 2d is elected president and director of Fidelity Fund.
Fidelity Management & Research Company (FMR) is founded; Edward C. Johnson 2d becomes president. 1965. Innovation: Fidelity purchases its first computer, beginning the development of the latest technology to serve its customers. 1969.
Abigail Pierrepont Johnson [1] (born December 19, 1961) is an American billionaire businesswoman and the granddaughter of late Edward C. Johnson II, the founder of Fidelity Investments. [2] Since 2014, Johnson has been president and chief executive officer (CEO) of American investment firm Fidelity Investments (FMR), [ 3 ] and chair of its ...
In 1946, Johnson formed Fidelity Management and Research Company, the predecessor of Fidelity Investments, to serve as an investment adviser to the Fidelity Fund. He also established the Puritan Fund, the first income-oriented fund to invest in common stock.
Apr 2, 2022 · Mr. Johnson, widely known as Ned, was 42 when he took over Fidelity, a small mutual fund company his father had run for three decades. The year was 1972: The market was in the doldrums,...
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Feb 8, 2024 · Abigail's grandfather, Edward C. Johnson, founded Fidelity in 1946. Fidelity had $4.4 trillion in managed assets as of September 2023, making it one of the world's largest mutual fund...
